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Short

USO 15m - short term analysis

BATS:USO   UNITED STATES OIL FUND
126 1 0
There is sizable open interest in the weekly Put options on USO at $33 and below. It is my feeling they want to keep USO above that level into the expiry (11 AM pst). Once that is over, there appears a case to be made for at least a 5% pullback over the coming sessions. Risk/reward going short at 33.10 (risk to new highs) is sqkued rather nicely here with a potential $1.00 plus reward.
Stop hit at 33.49 = -.38/share
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